Mortgages in Latvia
Mortgage rates in Latvia
Maximum LTV ratio | |
Minimum loan amount | €50,000 |
Fixed rates | |
Loan term | |
Maximum age of borrowerby the end of the loan term | 70 |
Maximum percentageof monthly income for mortgage | 35% |
Documents
Prospective lendees need to submit the following documents to Latvian banks:
- mortgage application
- passport
- bank statements for the previous six months
- proof of income for the previous six months
- pledge assessment
- property acquisition documents
- construction documents: construction permit, contracts and cost sheets (for construction loans)
- proof of all utility bill payments for each pledged property.
All documents must be translated into Latvian and notarised.
Loan applications usually take
Extra costs
Property appraisaland Due Diligence | |
Mortgage arrangement fee | 2% of the loan value |
Early repayment penalty | — |
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